bullish

Bitcoin ETF

Spot

<p>After closing the last four days in a bearish outlook, Bitcoin's (BTC) price has significantly slowed down in the initial bullish momentum towards the much-<a href="https://coinpedia.org/news/bitcoin-price-struggles-to-reach-100k-will-altcoins-lead-the-next-crypto-rally/" target="_blank" rel="noreferrer noopener">hyped target of $100k</a>. Moreover, the flagship coin has consistently closed below the previously established support level of $95k.</p>   
<p>Is the rally losing steam? </p>   
<h2 class="wp-block-heading" id="h-investor-sentiment-shifts">Investor Sentiment Shifts </h2>   
<p>While Bitcoin’s dominance has weakened, altcoins are showing signs of a bullish trend. On the daily chart, Bitcoin continues to form higher highs, but the <a href="https://coinpedia.org/traders/what-is-relative-strength-index-rsi/" target="_blank" rel="noreferrer noopener">Relative Strength Index</a> (RSI) is showing a bearish divergence, which suggests the momentum may be fading.</p>   
<p>This could indicate that more investors are turning their attention to altcoins, fueling a rotation of capital within the crypto market.</p>   
<p>Bitcoin's price peak at $99.5k last week saw investor sentiment reach extreme greed, with the sentiment index hitting 93%. However, that has since dropped to about 75%, suggesting that while greed still dominates, it’s not as intense as before. Over the past two days, the US spot BTC ETFs experienced significant outflows, totaling more than $550 million.</p>   
<h2 class="wp-block-heading" id="h-us-spot-btc-etfs-are-bleeding">US Spot BTC ETFs Are Bleeding </h2>   
<p>On Tuesday, Bitcoin’s spot ETF issuers saw a net outflow of roughly $122 million. BlackRock’s IBIT saw no net change, while Fidelity’s FBTC and Grayscale’s GBTC experienced the biggest outflows of $95 million and $36 million, respectively. </p>   
<p>On the positive side, Bitwise’s BITB and Grayscale’s BTC were the only funds with inflows, attracting $6.47 million and $4.84 million.</p>   
<h2 class="wp-block-heading" id="h-altcoins-take-the-lead">Altcoins Take the Lead </h2>   
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
   https://twitter.com/cryptojellenl/status/1861662441991496095?s=46 
 </div>
</figure>   
<p>Despite Bitcoin still being in a macro bull market—confirmed after the <a href="https://coinpedia.org/news/2024-us-elections-result-donald-trump-officially-elected-president/" target="_blank" rel="noreferrer noopener">2024 U.S. elections</a>—the bullish momentum is gradually shifting toward altcoins, particularly <a href="https://coinpedia.org/price-analysis/ethereum-bulls-struggling-to-clear-3400-heres-whats-next-for-the-eth-price-ahead-of-a-golden-cross/" target="_blank" rel="noreferrer noopener">Ethereum (ETH). This suggests a growing interest in altcoins</a>, with Bitcoin’s role in the market weakening slightly.</p>   [post_titles_links postid="386085"]   
<h3 class="wp-block-heading" id="h-what-s-next-for-bitcoin-s-price"><strong>What’s Next for Bitcoin’s Price?</strong></h3>   
<p>From a technical perspective, Bitcoin may retest the $85k support level if it fails to hold above the $91k range. Veteran trader Peter Brandt believes Bitcoin could climb toward $130k before experiencing a major correction, similar to past bull cycles.</p>   
<p><strong>The shift in investor focus suggests that Bitcoin’s dominance may soon be tested—only time will tell which way the market will blow.</strong></p>   
<h2 class="wp-block-heading" id="h-faqs">FAQs</h2>   
<div class="schema-faq wp-block-yoast-faq-block">
 <div class="schema-faq-section" id="faq-question-1732710159750">
  <strong class="schema-faq-question">How are altcoins affecting Bitcoin’s dominance?</strong> 
  <p class="schema-faq-answer">Altcoins, particularly Ethereum, are gaining momentum, leading to a shift in investor focus and potentially reducing Bitcoin's dominance in the market.</p> 
 </div> 
 <div class="schema-faq-section" id="faq-question-1732710189868">
  <strong class="schema-faq-question">Why is Bitcoin's price slowing down after nearing $100k?</strong> 
  <p class="schema-faq-answer">Bitcoin's price has slowed due to a bearish divergence in the RSI, suggesting waning momentum and a shift in investor sentiment toward altcoins.</p> 
 </div> 
</div>

Bitcoin ETF Outflows Hit $550 Million: Will the BTC Bull Run Suffer?

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